Table of Contents:

1. Definition
2. General Policy

Section 1: Definition

---

1. A trade-out is defined as an agreement between WNC and an individual, partnership, corporation, or other such entity for goods or services in exchange for anything of value from the institution, including, but not limited to, advertising, club memberships, sponsorships, or tickets to any event.

Section 2: General Policy

---

1. All trade-out agreements, including new trade-out agreements, renewal trade-out agreements, and multi-year trade-out agreements must be in writing and approved by the president or his or her designee.
2. All trade-out agreements, including new trade-out agreements, renewal trade-out agreements, and multi-year trade-out agreements may be approved only when the value of the goods or services received by WNC is equal to or greater than the value of the goods or services received by the individual, partnership, corporation or other entity.
3. All trade-out agreements are subject to review/audit by the Chief Financial Officer or his or her designee.
4. All trade-out agreements, including new trade-out agreements, renewal trade-out agreements, and multi-year trade-out agreements may be non-renewed where it is determined that the value of the goods or services received by WNC is not equal to or greater than the value of the goods or services received by the individual, partnership, corporation or other entity.
5. Trade-out agreements are to be used solely for the benefit of WNC and exclusively for business purposes. Any personal use or benefit from a trade-out agreement is prohibited.
6. All trade-out agreements must be in compliance with applicable laws, regulations, and Board of Regents policies and must be in the best interests of WNC.
7. This policy may be amended or repealed on the recommendation of the president and approval of the Board of Regents.

---